I need to get SUPER creative!

[Becky Hoffman]

ABOUT ME: In an effort to not get tooo deep, I have been a stay-at-home mom for 18 years and trying to leave my abusive marriage. While my husband has a great salary and has provided a very outwardly comfortable looking life, I've felt stuck and essentially held hostage with our crippling debt at all times. I have 3 children still at home and we also have 3 beloved dogs (2 of them are German Shepherds), 2 cats, and a bearded dragon, making getting an apartment or even rental home extremely difficult. Beyond the fact that median 3br rentals are $3k/mo in my area, I have no personal income, work history, and a credit score of 594. 

SHORT GOALS: I am working on getting a 9-5 and am 40% through my online real estate licensing course to become an agent. I want to sell our family home and purchase a new home for myself, children, and animals. We owe $560k on our current mortgage, have $100k in consumer debt, with an estimated $100k needed in home repairs/updates to get to an ARV of roughly $1.1M. We recently had a cash offer from a local brokerage of $750k. We live in the suburbs of Seattle and median home price is $800k.

LONG GOALS: My passion and dreams are to be a real estate investor, and ultimately own wellness/well-being resorts that you don't have to know Gweneth Paltrow to be able to access or afford. A little slice of heaven and soul restoration for the average person, so to speak. I think everyone deserves those self-care experiences. Down the road I also hope to start a nonprofit that offers women domestic violence victims, who might not otherwise qualify (like me), flexible rentals in single family or small multi-family homes in decent areas, as well as education in real estate investing, paths to ownership of these (or other) homes, and the ability/knowledge to start building personal wealth. I'm ready to move out of paralyzation and fear and start learning and doing everything I can to accomplish these goals and build a stable future for myself and children. 

IDEAS: I was thinking of trying to get a hard money loan for $750k to purchase my home outright from my husband and get him to move out (I am also on the current mortgage), payoff $75k in consumer debt to start building my credit again and use the remaining to live off of and flip my home to have on the market with a list price of $1.1M by end of Oct. To get him to agree, I would also offer my husband half of the proceeds from the sale of the house. Equally important is simultaneously purchasing a new home and getting us moved to begin a quick flip turn around on my current house. To purchase a new home, I am thinking of finding an AMAZING deal (something livable, but that I could update while living there), obtaining an investor that will buy said property and either seller finance it back to me, or give me a lease option. Various terms I'm thinking...seller financing for 5 years with zero down and 2% interest only payments, then payback of original loan from sale or refi, plus 50% proceeds. Or 5-year lease option with $1k fee, monthly rent, and agreement to utilize my own funds from sale of my house for updates and then purchase the house within 5 years for the pre-determined ARV. I would only plan to be in this home 1 year and then access the equity for capital on a new deal. However, the 5-year terms would allow me flexibly.

I'm not sure how feasible these ideas are, if I'm on the right track, or if this is a totally unrealistic pipe dream. I know it hinges on finding that crazy deal and convincing an investor to take a chance on me and help me start my business. I would love any feedback or additional creative ideas of what to do or how to start my launch, so I'm not immediately entrapped in building someone else's wealth through purely renting and living paycheck to paycheck.  Above all though, it is imperative I get myself and children into a different environment asap and I will do whatever I need to make that happen. 

Thank you for taking the time to read through this and offer any experience or knowledge that might be relevant!